The rollout, which began on May 16, utilizes the Lightning Network to enable faster and lower-cost transactions.
Edwards revealed that the initial response exceeded expectations. On the first day alone, Steak ‘n Shake accounted for 1 out of every 500 Bitcoin transactions worldwide. He attributed this to strong interest from customers eager to use Bitcoin as a payment method in a real-world retail setting.
The company is already seeing measurable financial benefits from the integration. Edwards said Bitcoin payments have allowed Steak ‘n Shake to reduce its payment processing fees by approximately 50% compared to traditional credit card transactions.
This is due in part to the efficiency of the Lightning Network, which facilitates near-instant settlement with lower transaction costs.
Edwards emphasized that the decision to integrate Bitcoin was a serious and permanent addition to the company’s payment infrastructure. He further clarified that it was not a promotional experiment or limited-time offering, but rather a long-term option that the company now supports alongside traditional fiat methods.
To mark the launch, several locations in Las Vegas introduced special Bitcoin-themed menu items. These include the Bitcoin Burger, Super-Sized Bitcoin Meal, and Bitcoin Milkshake. Edwards also said the company is working on a new “blockchain menu,” though further details were not provided.
According to Edwards, the technical implementation was designed to be seamless and accessible for customers.
Since enabling Bitcoin payments, Steak ‘n Shake has observed a sustained increase in transaction activity. Edwards stated that customer behavior shifted quickly following the integration, with many opting to pay in Bitcoin and returning for repeat purchases.
The company has not yet released specific transaction volumes but indicated that the trend has continued beyond the initial launch period.
In addition to payment acceptance, Edwards noted that Steak ‘n Shake is investing in broader digital transformation. He referenced upcoming plans involving autonomous systems, AI, and blockchain-related technology, and confirmed that the company is actively hiring engineers to support these initiatives.
Edwards concluded his remarks by encouraging the audience to recognize Bitcoin’s growing utility in retail and hospitality environments. He framed the rollout as part of Steak ‘n Shake’s continued evolution in response to shifting customer expectations and new technology standards.
